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money, your vote." i'm kelly evans. >> i'm ross westgate. these are the headlines. >> president obama rolls to re-election and a second term, defeating mitt romney despite a weak u.s. economy and persistently high unemployment. >> investors cheer obama's re-election. equities trading high led by autos and health care stocks. >> democrats keep their hold of the senate and republicans keep their control of the house. >> there will be a tough challenge facing the looming fiscal cliff. >>> a very good morning to you. it's been a long night, but we have a result. >> yes, we do. let's get right it to. president barack obama capturing a second term in the white house despite the struggling u.s. economy. he did manage to win many of the same states he took in 2008 and nearly all the critical swing states, including ohio, virginia, and colorado. speaking to supporters in chicago just a few hours ago, the president congratulated his republican challenger on the spirited race and said there's plenty of work ahead to fix the country's fiscal problems. >> i believe we can seize this future togethe
what matters if president obama is re-elected or not. the indecision over the outcome played out once again in today's quiet session. the dow gained 19 points. s&p rallied. nasdaq advanced 5.9%. tonight i want to show you what really matters, why they might go up or down independent of the election. don't worry, i'm going to give you some picks for an upset by governor romney, although i'm on record thinking it's most likely not going to go the governor's way. but i bow to popular demand. first up, let's figure out how stocks have really done under president obama and i'm going to use a prism that i haven't seen anybody else use, the five-year lookback. you cannot use the inauguration day as the starting point. there's too much priced in at that point. almost every stock is higher, so it's irrelevant. the s&p is up 75% from inauguration. we need to go back to when the great recession was just about to begin. it became clear the next occupant in the white house could be a democrat, proved my thesis that if obama wins, it might not matter the stocks nearly as much as you think. anyway,
obama defied the polls and predictions in an election that was expected to be one of the closest in history, even with florida tonight still up in the air. the president won more than 300 a tour of votes to secure another four years in the oval office. many republicans are left in shock at the results asking how with 23 million people unemployed almost 8 percent unemployment, record national debt in excess of $16 trillion, scandals and controversies from operation fast and furious, the benghazi cover-up, how could president obama possibly win reelection so impressively? a popular vote margin of more than 2 million votes, but an electoral vote margin of almost 100. an examination of the fox news exit polling data shows the obama campaign won big with key constituencies, and a strong showing by the democratic base responsible for putting the president over the top. president obama drawing on the latino community. xbox projecting 71% of hispanics voted for the president. that number up from 67% in 2008 and, of course, the historic level. the president's support among black voters ac
percent. we are bracing for gridlock. president obama claims another four years. europe also in play. decision day with protesters taking to the streets on the new morning about the euro zone debt crisis. tracy: despite the ballooning deficit, president obama winning a decisive electoral victory. any chance things in washington will actually change now? or does it give the president a big old mandate? lori: a record 20 million people taking to twitter to speak out about the election. coming up, the most popular tweet of all time. the new york stock exchange and nicole petallides. broad-based selloff, most sectors in the red today, what are the traders saying? nicole: they're looking at the key levels, the s&p 500 below 1400, a very technical level that we have followed. traders say tha said that is nod sign. you think maybe this is a buying opportunity with the traders i have been talking to say it has further downside potential. sector after sector coming under pressure for the next four years. financials, energies and the likes. also a name making some headlines on their ow
votes for president obama, five for governor romney. back in 2008, president obama defeated john mccain 16-5. let's take a look at the map. 270 electoral votes are needed to win. nbc news now shows president obama with 237 likely. romney 206. and 95 in the toss-up column, so it is going to be a very long evening, andrew. >> i think we'll be staying up pretty late and then we'll be back at it tomorrow morning. but cnbc's team of reporters has the country covered this morning. stationed in battleground states, campaign headquarters and here at election central. among our guests this morning, house majority leader eric cantor, and then private equity pioneer and obama supporter alan patricof, outspoken republican ken langone, don peebls, and one of bush's right hand many, larry lindsey will be joining us. and then later today, a very special afternoon edition of "squawk box," we'll pick up election day coverage again at 5:00 p.m. so if you're sticking with us now, stick with us all day and the cnbc team will continue throughout the evening. of course you can take part in all of this by
. >> obama democrats and republicans vowing to work together for the good of our country. peter doocy has more. >> good morning, ainsley. since the balance of power did not shift as a result of tuesday's election with democrats still controlling the white house and the senate vice president joe biden thinks voters give politicians a clear mandate to deal with tax policy the way democrats want to do it. speaker of the house john boehner who will remain the most powerful in washington another two years think voters instead wants to compromise. >> the american people have spoken. they re-elected president obama and they again re-elected a public majority in the house of representatives. there's a mandate for us to find a way to work together on the solutions to the challenges that we all face as a nation. >> the democratic leader of the senate harry reid also expressed a desire to xroe mis-- compromi. now americans know they can't defeat obama now they need to put attention on meeting somewhere in the middle on important issues. >> this is a message american people sent from all over. that i
for the first time five votes each for obama and five for romney. election coverage begins with a special edition of "squawk box" tonight at 5:00 p.m. eastern time followed by prime time coverage here on cnbc. jim will be a big part of this. >> i can't wait. a big night. i think that -- look, as maine goes so it goes. new hampshire, i don't know. when i look at all of the polls, i here it neck and neck. when i look -- this is why i believe it will be for obama. that's not a political statement by the way. what i'm saying is i look at the states and obama does factor plus or minus he's ahead except for virginia and maybe florida depends on the poll. i urge everyone to go out and vote in new jersey. very difficult. largest polling place in our town closed. no power. people have to recognize that the adversity of a lot of people trying to vote today shows you that democracy is trying to be at work. not as easy as you thought. >> i have always said voting is messy. we do it better than just about anybody else. >> north korea has the 99%. everybody seems to turn out. >> regardless of whether t
. this is not the election outcome that wall street wanted to see. after all many investors believe president obama's tax policies will hurt corporate profits. on top of that there's the likelihood of more regulation in the president's second term. those concerns were evident in selling today of energy, banking and healthcare stocks. a quick look at the price board at the new york stock exchange is a good barometer for the worrywarts out there. wall street veteran teddy weissberg says many investors are just plain upset. >> there was an expectation that we would have some change and a change in the policies. and, i think with obama getting re-elected there are a lot of folks that are not happy, and we're kind of seeing that in the stock market. >> reporter: but, others say it's not just the disappointment of romney's loss, it's that the fiscal cliff now looms large on wall street. >> i think the big issue right now is the fiscal cliff, now that the election is behind us everyone is really focusing on what's going to happen at the end of this year, and of course if nothing's done by the end of the year th
of people were hoping for romney. but a lot of people thought that obama was not going to lose this election. so i mean as investors you sort of have to build that into your calculations. when you're looking at things. but now we're going have to get back to business. there's dodd frank. there's the fiscal cliff. all that trouble in europe, starting to throw fire bombs. it is serious business. now we have to think about it. we have to go back to work. what happened happened with the election, let's now go. liz: exactly, what happened happened let's now go. crude oil now falling 4 1/2%, more than $4 at this point. natural gas down, rbob gasoline losing 10 cents. good for the consumer. but why is anybody surprised especially when we have a stronger dollar? >> yesterday, we were up over $3 yesterday. going forward with the election and thing tas are going on in -- things that are going on in europe, like bobby had said, everybody kind of thought at least down here in my circles we were hoping for a romney win and kind of now obama was going to take it. as far as the oil market, i will look more
ask you to come and deliver your supplies. >>> in atlantic city, president obama was met by new jersey governor chris christie. after the two leaders surveyed the damage along the jersey shore, the president vowed he wouldn't tolerate red tape. >> i've instituted a 15-minute rule, essentially, on my team -- you return everybody's phone calls in 15 minutes, whether it's the mayor's, the governor's, county officials. if they need something, we figure out a way to say yes. >> during one of his stops, governor christie found more victims in utter despair. >> i just want everybody to get help right away. >> yeah, well, we're going to try to do it. we're going to try to do it. >> they don't deserve it. >> yeah, yeah. >> look at our house, our house, everything is gone. >> yeah. >> i've never in ten years had water in my house. >>> in new york, after pumping water out of the subway system, we got word a short time ago that a handful of trains are running. some commuter service to connecticut will also return today on a very limited basis. >>> and it is an amazing but eerie sight. much of the
is on in earnest. president obama and a governor romney barnstorming the state of ohio today, a swing state, with 18 electoral votes that could be the key to victory tuesday. four days before we choose who will lead the nation for the next four years, president obama making an outrageous claims about his record in the face of a rise in the unemployment rate today, which had just under 8%, is higher than when the president took office. >> our ideas were tried and tested, and they worked. their ideas were also tried, and they did no work done so well. lou: 23 million americans to remain out of work might disagree. the national debt has risen by more than $5 trillion. the nation's economy, it is all but stagnant. this has governor romney running l as the candidate of change. >> accomplishing change is not just something i talked about. it is something actually done, and we need to have someone in the white house who cannot just talk about it, but do it. lou: the most recent poll of ohio mirrors those tight national polls. rasmussen reports showing governor romney tied with president obama at 4
is to watch the dollar generally seen romney is better for the dollar. obama victory would mean a weaker dollar. so we see the dollar showing strength. whether that means markets are reading in to it or not, i don't necessarily want to think we can go that far, but we are seeing under 1.28 for the euro-dollar, 1.2796. shedding 0.1%. and this along with the other dallas crosses will be one to watch in the next about 48 hours and hopefully not too much longer than that. >> we are hoping we know in 48 hours exactly who the president is. cross our fingers on that. when we come back, as the northeast begins to recover from super storm sandy, the hardest hit regions are bracing for a possible nor'easter. this is the next phase. plus the final dash to election day. john harwood joins us with the latest poll findings. the new electoral map when "squawk box" returns. >>> let's take a quick look at us equity futures. just 24 hours before the big election. dow off 22, nasdaq, as well. bowieing and kuwaiti leasing company finalizing an order for max 8s, valued at $2 billion current list prices. the
selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here tonight with bedford open geyser ceo harvey eisen and republicans who have put tax revenue on the negotiating table , and some republicans have flat out repudiated their anti-tax increase pledge. the author of that pledge, grover norquist, here and we will ask him how it is that he came to be the villain in this piece, how it feels to be the subject of attacks from both the left and some on the right and what the future holds for those republicans who break their pledges to voters. also tonigh
began to heat up, president obama dispatched secretary of state clinton to the middle east in what is being called an emergency mission, mission to augment efforts by you in chief of find a diplomatic way to avoid an all-out ground war between israel and the moss. as of tonight, no deal has been reached. ambassador michael moran saying israel is looking for a lasting solution, not just a temporary halt to the ongoing violence. telling fox news that clinton is not there to put her imprint on an already agreed to cease fire but they're for diplomacy. eight top hamas official echoing those remarks telling reuters that israel has yet to even respond to proposals and that any deal must wait until tomorrow. clinton landed jerusalem a few hours ago ahead of a meeting with prime minister benjamin netanyahu. >> in the days ahead the united states we will work with our partners here in israel and across the region bolstering security for the people of israel. conditions for the people of gaza. and move toward a comprehensive peace for all people of the region. lou: the secretary of state tra
there is to do and the future that lies ahead. >> president obama wins a second term in the white house but of course now the hard part begins. can he and congress agree on how to avoid the fiscal cliff just 54 days from now? good morning. welcome to "squawk on the street." i'm carl quintanilla with melissa lee, jim cramer, david faber. as you can see once again, down triple digits. a lot of news out of europe today as attention turns to greece and parliamentary vote there regarding austerity measures later on. democrats gaining seats in the senate. republicans maintaining control of the house. >> the issues that were a tossup are now certainties. we'll get cramer's take on how to align your portfolio right now. >> ecb president saying the euro crisis is hitting europe's strongest country. >> we're on storm watch in the northeast once again. airlines canceling flights with american airlines shutting down in new york this afternoon. >> of course we begin with last night's election. the president winning a second term defeating gop challenger mitt romney. it was battleground state ohio th
, freeing ourselves from foreign oil. we have more work to do. dagen: that was president obama during his victory speech last night stressed the need for bipartisanship. connell: former managing director at bain capital and author of unintended consequences. a friend of mitt romney's, the polls were right, your friend lost last night in the market down 300 points today, what do you make of it all? >> the online betting predicted 75% probability of an obama win so that means that 25% of the remaining uncertainty left prior to the election. it is really four times bigger if you think about it in terms of what was priced in. dagen: do you think it is part of what was maybe not getting done on time for the fiscal cliff, they are pricing in may with a greater likelihood of a recession, which everybody says it is not just the presidents fault, it is the president and congress getting together to do something about the tax increases and spending cuts? >> they expect higher turning and higher taxes and slower growth. i think the market looks pretty far in advance and have priced in the probabilit
>>> good morning. decision 2012. president obama re-elected to a second term. republicans retain control of the house. while the democrats keep power in the senate. >> tonight, in this election, you, the american people, reminded us that while our road has been hard, while our journey has been long, we have picked ourselves up. we have fought our way back, and we know in our hearts that for the united states of america, the best is yet to come. >> we have left everything on our field. we have given our all to this campaign. i so wish that i had been able to fulfill your hopes to lead the country in a different direction. but the nation chose another leader. and so ann and i join with you to earnestly pray for him and for this great nation. >> investors say they've been waiting for this answer for months, after uncertainty that's been hanging over the markets. but what will the status quo in washington mean for stocks, bonds, currencies, and commod y commodities, and qe-3. but there's still the issues of that fiscal cliff. this morning, we're calling on leaders to solve this, to
%, but that obama above by 2%. the momentum is in mint romney's favor. the ground is in his favor. 93% of where we were in 2008. the momentum is clearly going in the governor's direction. i think these personal stops make a difference. dagen: you do not think that the fact of hurricane sandy moving in in the presidential election was not the focus of television news conference and you could not get away from advertisements. it was not above the fold on the front page of newspapers. how did that not hurt mr. romney? >> i think it slowed the momentum of the campaign. i do think that has picked back up. i think only history will see how sandy plays out. you do have the president acting like a president for a few days because that is his job. dow you have have some people resentful because they do not have the supplies they need. it discourages the vote if you have a lower turnout in those states, you have better results for governor romney. i am anxious to see how the story plays out historically. i think right now we still have romney ahead. i am very nervous about the potential if governor romney d
rally. 400 something points, enough of a deficit on the dow. melissa: president obama delivering his first remarks of the white house since his election. expected to focus on the fiscal cliff in the broader economy. those comments live in just a few minutes. lori: interesting. the remarks coming after they come off of the weakest decline in a year. the markets near session highs, but will the market like what they hear? melissa: plus, what will the next four years mean for the oil and gas industry? the ceo will join us coming up. but it is time for stocks as we do every 15 minutes let's head to the floor of the new york stock exchange. stocks are climbing higher after the two-day drop. sandra: they did not start out that way, there was fear we would have another dramatic selloff today. now we are somewhat up from about 61 points. that is not exactly a rally. bouncing back a little bit ahead of the weekend, but still the worst two-day drop in a year, 434 points loss over that wednesday and thursday. as we face a fiscal cliff, consumer sentiment one piece of economic data that came out
. >>> the challenges ahead for president obama after the brutal election campaign. that is one of the top stories you will see just ahead. >> good afternoon. i am tori campbell. we will have full coverage in a minute. with developments in the east bay, these pictures are just in to the newsroom from san lee and doe -- san leandro, this is 880. the highway patrol said a truck spilled 185 gallons of lye on the road just before 9:30 this morning. they told us how the driver found out about the leak. >> the driver was driving down the freeway and another driver pointed out. was painting to the cargo and he pulled over to inspect and found out there was a leak in one of the containers. >> the chp said none of the material got into the storm drain. the lanes could be closed for another two or three hours during the clean up. >>> a triumphant president obama is looking at four more years after an electrifying victory that caused the crowd to go wild in chicago. >> mr. obama said his re-election is a call to action. he said the best of his work as president is yet to come. he made it c
clear message to president obama, which s oh, you think you know business, watch this. so now you're going to learn and you're going to learn real fast. a correspondence course is not going to help. we're going to be all over the place. my sense is until we get through with gridlock -- we had the federal reserve giving us all the money we needed. obviously markets like that. until we're convinced we're out of the woods with gridlock, i don't know where we can go. >> it's interesting. i think john boehner in that speech he made just a few minutes ago basically opened the door for higher taxes. this is part of the reason the mark sold off today. now we know the republicans are going to have to swallow it. they have been adamant about no new taxes, but this is where we are going. david, you say don't make any portfolio changes in light of the obama victory. what moves are you making today? no radical changes? >> we wouldn't be changing too much. the stocks that sold off today were some that were under the greatest pressure during the first administration. there's really no change. we
, there is panic on wall street. right now, the dow is down more than 250 points. after president obama's re-election and new concerns about the global economy. good morning, and thanks for being with us. i'm marla taez. >> i'm john kelly. good morning, everybody. at one point, 303 points lost on the dow. the marks this morning weighted down with post election worries. let's check in with business and tech reporter scott mcgruen. you say this is not wall street expressing disappointment over four more years of obama. >> not obama, the man. the broader markets did rise significantly in the four years since president obama took office. the worry here is the fiscal cliff. a little more than 55 days from now, automatic and draconian cuts will combine with big tax increases unless washington works together to stop it. and wall street justifiably worried this morning the two sides, the democratic president and senate, and a republican house, will not be able to come to agreement. that's why the dow industrials are down 260 points at this point. the nasdaq off 65 points. the s&p 500 down 27. will h
up tomorrow's presidential election in this country. polls show the race between barack obama and gop challenger mitt romney to be a dead heat. on wednesday the greek parliament is due to vote on a package of austerity measures and then china's congress convenes for once in a decade leadership change. that's not evening mentioning ecb. there's been some that have said this is potentially the highest concentration of risk of the entire year. >> i heard this. it's embarrassing to hear. what's happened the whole time is there are managements that have made money during this period and managements that have failed and models that have made money and models that have failed. i spent a lot of time this weekend going over the last five years of stocks. what i find is that you have the ibms which delivered. moved from hardware to software model, consulting and hewlett packards that failed. when you do risk on and risk off, i'm an s&p trader. i trade the s&ps. forget individual stocks. if you want to play that game, fine. >> a lot of institutions play that game. not just hedge funds. a lot of
moving? dagen: based on yesterday's sell-off, and obama victory was not quite priced into the market why not? what will the next four years be like if you are an investor? >> plus, gas lines continue in many parts of the east coast. more than 200,000 new power outages after second storm hits. dagen: top of the hour, stocks nine every 15 minutes. nicole petallides of the new york stock exchange. stocks mixed after the big sell-off yesterday. >> reporter: yesterday we got over 300 points. a loss of more than 2%. right now the major averages not too far off the unchanged line. i continue to hear about people not having power. we had our second storm. the blood still struggling. trying to trade and get that happening. you have a lot of people with no power and gas lines. someone i know just went for three hours, and on the third hour get turned away. you have people on the northeast coast still struggling. let's take a look at apple. when you look at apple, remember, the stock was over $700 in the middle of september. it had a 20 percent correction. still in the bear market territory. while
city, president obama met with new jersey governor chris christie. after the two leaders surveyed the damage along the jersey shore, the president vowed he wouldn't tolerate red tape. >> i instituted a 15-minute rule essentially on my team. you return everybody's phone calls in 15 minutes. whether it's the mayor, governors, county officials, if they need something, we figure out a way to say yes. >> during one of his stops, governor christie found more victims in utter despair. >> i need help. >> we're going to help you. >> everything is gone. >> i know. >> so many people in that situation. in new york, the desperate race to get america's biggest city back up and running continues. water is being pumped out of the subway system. officials in new york and connecticut say the subway and commuter rail lines will start returning today although on a limited basis. it is an amazing but erie sight. much of the skyline of lower manhattan remains dark as this city enters the fourth day of a massive power outage. the flooding crisis from sandy goes beyond the east coast. these are pictures
into the market heavily. not until then. >> okay. jeff, in the meantime, you believe with obama remaining in position that ben bernanke's job is safe for the foreseeable future and that is inflationary, yes? >> i think the fact that we've had inflation, core inflation, outside of core inflation, food and energy prices have accelerated in the obama administration. ben bernanke has failed to realize it as inflation. it's a big concern. now we're going to begin to see the acceleration of inflation based on the fact that now he has full reign. this is going to prove to be his show. >> how are you going to play that, jeff? >> we recently scaled back on gold, but i'm not long-term bearish on gold by any means. i believe we're going to get an opportunity to make money in gold. i built up a significant cash position. i missed a good part of the rally. at this point, i don't want to participate in this type of market, protecting against inflation. being in commodities makes a lot more sense. >> bill, let me say one thing quickly. jeff is exactly right, but don't forget, there's going to be a lot l
slow down our economy. >> president obama from his part came into the east room. he also drew a line, but the line he drew was not insisting on higher tax rates but on higher tax revenues. >>> i'm not wedded to every detail of my plan. i'm open to compromise. i'm open to new ideas. i'm committed to solving our fiscal challenges, but i refuse to accept any approach that isn't balanced. >> so, larry, balance is the key for president obama, not necessarily increases in tax rates. signs of conciliation on both sides and late this afternoon the bipartisan policy center which has been pushing for a simpson bowles-type solution said they were encouraged by the flexibility shown on both side says. john harwood, appreciate it and let's get reaction, and we have republican whip senator john kyl from arizona and senator kyl as always, sir, thank you for coming on and let me just ask you, is this a new era of good feelings and is this an era of compromise and is this an era of common ground, mr. kyl? >> kumbaya. well, we hope so and you focused on precisely the issue here and maybe from what the
obama promise, but some promises are made to be broken, and i think this is probably a good move. but first up congress back at work tonight after the holiday recess with now just 35 days to go. are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the congressional leaders and the president. the numbers are all one. there's one month left for these leaders to figure it out. two, 1.4 it is is the amount to be shaved off by gdp and one is the amount of trillions of dollars that democratic aides, senior democratic aides tell me is necessary to get a deal wit end of the year with the remaining 3 trillion of savings coming in the early part of next year, a
of course, as we've been saying, president obama set to lay down his starting points on the fiscal cliff debate and what the economy needs to stay in recovery mode. a setting rich in theater coming just hours after the speaker of the house, boehner, made his case. >> indeed he did, ty. thank you. i'm sue herera, along with my partner tyler mathisen. john harwood and eamon javers are in washington as we countdown to the president's statement in a few minutes. we're hearing that the white house has invited congressional leaders for a meeting at the white house next week on the fiscal cliff. that seems to mean, john, to me anyway, a little bit of progress. what type of tone do you expect, john, the president to take in this next address? >> sue, i expect him to be conciliatory and reaching out to republicans the way john boehner has tried to strike that mode on capitol hill. two different white house specialists just told me the president will walk out here and announce he's invited the bipartisan leadership of congress to the white house next week to begin talks on the fiscal cliff. i have
. >> romney told supporters in sanford florida that it is time for new leadership. president obama was possible to his promise to bring it to dennis of problems. he has not. i will. >> on his running mate paul ryan echoed that tottering on the bottom. >> we do not have to settle for this. we can do better than this. this may be the best that barack about an offer, but this is not the best american have. >> vice president joe biden told the crowd and starling agenda obamas the best choice. >> president to a lesson about character. it is the most important ingredient president must possess to lead the world. president obama has the character of his convictions. >> voters in this bill not to the venture castles. the time open to expose the night since 1960. the first time in history the boat was tied. obama and ronnie at five votes each. in parts location new hampshire president obama beat out on the 23 to nine. i am dead aim reporting. >> closer to home the future of education funding in california would put to voters today. two propositions on the state ballot and to give more money
trends. >>> plus what will obama do about the looming fiscal cliff? we'll have plenty of analysis from commentators. >> and we'll hear first from the cfo of aliance. but first day two data suggested growth is picking up and inflation is moderating meaning beijing may have more scope to ease if necessary. ppi industrial output and retail sales all came in better than forecast. eunice joins us from beijing. i'd hate to suggest this is quite good timing for this data. very convenient. >> what are you suggesting? a lot of people are saying that the numbers are showing the economy is bottoming out and a lot of people do use the numbers as a guideline at least. they're saying the investment figures were encouraging. looking relatively strong. the government hasn't put up of much money in the infrastructure projects, so that's part of the equation here. other part is retail and consumption side actually look pretty good. numbers came in at 14.5% growth and that beat expectations. a lot of that was because people are buying more food as well as automobiles. now, the whole picture looks as thou
threatened to downgrade the u.s. credit rating unless president obama and congress reach a deal on a spending plan by the end of the year. japan's nikkei index lost 1.3% in early trading. south korea's main index also down more than 1% today. >>> and investors here in the u.s. hope the markets rebound from yesterday's free fall. the dow fell more than 300 points. the nasdaq and the s&p also suffered big losses. >>> new this morning, we've learned president obama will be making a ground breaking trip in two weeks. an official from myanmar says the president will visit on either november 18th or 19th. it will be the first ever visit to the country by a u.s. president. the obama administration is trying to encourage democracy in that country. the president is also scheduled to visit nearby thailand and cambodia that same week. >>> tony tull is at the news4 live desk now with breaking news. >> we are just getting word out of afghanistan about multiple deadly bombings by insurgents. in kandahar, a suicide bomber killed three police officers and wounded two others. and in the eastern part of the ci
the stage for a possible comeback. >>> and president obama meets with top u.s. lawmakers to begin budget talks as the fiscal cliff looms. both sides are digging in their heels on on tax hikes and spending hikes. against all of the political changes we're seeing today, first i want to show you the market action. stoxx 600 is sitting roughly flat, but we've seen interesting trading session where the nikkei really surging to the up side again today. more on that in a bit. take a look at what's happening across europe because after a couple of uglier days in the market, we're seeing something of a comeback now led by technology, retail stocks are also in the green, food and beverages, autos among the sectors dragging on the in-dek. we can take a closer look at the bourses. ibex is down. ftse 100 sam thing, so we'll keep an eye on all these levels as the show progresses this morning. the bond space is where we've been focusing our attention with spain and greece on. spain today seeing prices rise, yields coming down to 5.78%. italy seeing a bit of a rally, too. selloff for britain and bund oi
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